Agnico Eagle Mines (NYSE:AEM) Given New $142.00 Price Target at Bank of America

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price target boosted by Bank of America from $119.00 to $142.00 in a research note released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the mining company’s stock.

Several other research firms have also commented on AEM. Raymond James increased their target price on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. TD Securities decreased their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Scotiabank increased their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $111.40.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $111.70 on Tuesday. The business has a 50-day simple moving average of $101.19 and a 200-day simple moving average of $89.55. The company has a market cap of $56.18 billion, a PE ratio of 29.55, a P/E/G ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines has a one year low of $60.15 and a one year high of $113.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. On average, equities research analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $26,000. Smartleaf Asset Management LLC lifted its stake in shares of Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after acquiring an additional 318 shares during the period. Decker Retirement Planning Inc. purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $29,000. Fifth Third Bancorp boosted its holdings in shares of Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. increased its stake in shares of Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after acquiring an additional 112 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.